AG trade ideas
Another interesting silver miner with huge potentialIt doesn't matter how much silver they have, how there balance sheet looks like or how their CEO drinks his coffee.
The sentiment controls the price and the chart is our indicator about what the herd believes. It's close to a bottom and just needs one more low along with the metals before the rocket will be fired. Very good risk reward relation.
AG: Resistance becoming supportAG fell below $6 recently, where it then bottomed into a (loosely) cup & handle pattern with $6 as resistance.
Recently, it broke above the $6 and, in the last two days, backtested the resistance, which now could be support. It also happens to be just above the still falling 50 DMA.
Of note is that on Feb 28, AG missed earnings. The next day, the stock rallied strongly. This could be a sign that sellers are completely exhausted.
I believe it is low risk here with a stop under $6, with a lot of upside potential if the precious metals bull resumes and the US Dollar weakens. Which, looks to be almost certain given the fundamental happenings today.
AG / SILVER | D | DIVERGENCEHmmm looks like AG diverged from its underlying asset.. SILVAH
Putting my wave glasses on:
|Silver| LT:
Cheers,
Keops
AG First Majestic Silver LONG PLAYBottom formation confirmed on 10/27 - long play in action, currently up 6% with a price target representing a 13% gain.
First Majestic Silver - Bottom Formation?Watch formation for a nice entrypoint to ride the next leg higher
Buy First Majestic Silver up to 8.20 USDIt´s been the right thing to wait with any recommendation in the mining sector. But now I feel the time is right. As explained I believe silver has a great potential over the next 8-12 months. The best way to play a multi-months rally in silver are some of the best but currently beaten down silver mining stocks.
First Majestic Silver without a doubt is one of the best companies in this sector. Focused on silver production in Mexico the company is run by mining legend Keith Neumeyer.
Although First Majestic has been consolidating sideways since October last year I think the stock is at a very interesting juncture.
We might be a bit early to the party but the risk/reward is just phenomenal! With a stop loss at 6.50 USD and a 1st profit target at 19.00 USD the idea has an initial 1:3 risk/reward-ratio. But First Majestic could easily take out 19.00 USD and we might scale in a couple more times once the stock has clear the downtrend line at 8.20 USD.
AG First Majestic Silver: Possible bullish movementI believe that trading success relies heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. A consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favourable trade setups and plans.
Maybe doing a Gartley patternLooks like a text book harmonic pattern. Expecting a rebound around 8.00.
AG Entry PositionBased on historical patterns after FOMC meetings announcing a rate hike, I expect First Majestic Silver to drop around 20%.
This could be anywhere from 1 week to immediately after the FOMC meeting on March 15th, 2017.
Influencing factors that would change this target:
DXY losing strength
Low GDP numbers from last week.
AG Buy Position at Support Trendline BounceAG is still considered an inverted head and shoulders in the making, as the first shoulder's resistance has not been broken.
Price will likely be bouncing from the support trendline and up to the low 13s.
Patron Alcista - Frena en el Cluster formado por Fibonacci y sale al alza.
Es un activo corrrelacionado al oro y plata que tuvieron una gran recuperacion. pero el cluster formado por el activo genero mucha fortaleza al alza.
AG Breaking the Bull FlagIn a bull market, price will spend long periods of time in overbought and very short periods of time in oversold, and short term trading is a sure way to wreck your portfolio. Trading too frequently on the indicators could leave you flatfooted and on the wrong side of a trade trying to make up for a loss.
If you are believe that we are at the cusp of a bull market in the junior miners, you should only use the momentum indicators to identify oversold opportunities where you can add to your positions. If we're in a real bull market, 'overbought' momentum indicators can stay that way for extended periods of time, and 'oversold' indicators usually last for brief durations. Take a look at some historical charts for the first half of 2016, for any junior miner, and you will see that prices spend long periods of time in overbought and very short periods of time in oversold.
The time is right to buy the dips, hold for the duration, and set reasonable stop limits in case of a black swan event that crushes all markets in unison.
I am currently accumulating positions in core miners such as Majestic Silver (AG), and this chart shows my recent buy points based on 5/10 Day Least Square and Simple Moving Averages.
Currently we appear to be nearing the end of a consolidation period that started January 5th and will probably break up/down by January 20th.
My expectation is for a bullish move upward for 5-10 days after the breakout.
AG Cup and HandleIf AG breaks resistance at $9.22, it will test $9.91. If we break that, the next test is at $11.20. My strategy is to buy a Feb $8/$11 call spread for $1.20.
AG starts a lawsuit against banks for price rigging!!!!This is the news we have been waiting for!!!
Superb news which is super positive for silver and gold.
In the coming weeks and months the market is going to absorb this news and claims should be recalculated in the share-price, what means higher prices...
